Euronet Worldwide

Euronet Worldwide, Inc.
Public
Traded as NASDAQ: EEFT
Russell 1000 Component
Industry Financial Services, Electronic funds transfer, Retail
Founded 1994
Headquarters Leawood, Kansas
Key people
 Michael J. Brown (CEO), Kevin J. Caponecchi, Rick L. Weller, Jeffrey B. Newman, Juan C. Bianchi, Nikos Fountas, Martin L. Brückner, Cindy Ashcraft
Revenue Increase $1,958.6 million (2016)
Increase $249.8 million (2016)
Increase $174.4 million (2016)
Total assets Increase 2.706 billion (2016)
Total equity Increase $900.5 million (2016)[1]
Number of employees
 5,600
Website www.euronetworldwide.com

Euronet Worldwide is a US provider of electronic payment services with headquartered in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, and other electronic financial services.[2]

History

The company was founded in 1994 and with headquartered in Leawood, Kansas by brothers-in-law Dan Henry and Mike Brown.

In 1998, Euronet purchased ARKSYS, a computer software company that specialized in electronic payment and transaction delivery systems.[3]

On January 23, 2002, Euronet Worldwide announced the formation of a joint venture with Hong Kong-based First Mobile Group Holdings Limited.[4]

In 2013, Euronet purchased Pure Commerce, giving it access to a suite of SaaS based applications. The following year, it acquired UK-based foreign exchange broker HiFX giving it access to cross border payment business in the UK, Australia and New Zealand.[5]

In July 2015, Euronet purchased the popular currency conversion web site xe.com.[6]

Company operation

It operates in three segments: electronic funds transfer (EFT) processing, prepaid processing, and money transfer.[2]

  • The EFT processing segment provides outsourcing and network services to financial institutions and mobile phone companies. This segment provided these services using a network of ATMs and POS terminals in Europe, Asia, and the Middle-East.
  • The prepaid processing - ePay division distributes prepaid mobile airtime, and other prepaid products and collections services for various prepaid products, cards, and services. This segment operates in a network of locations in the United States, Europe, Africa, Asia Pacific, and the Middle-East. It also provides prepaid long distance calling card plans, prepaid internet plans, prepaid debit cards, and prepaid gift cards, as well as prepaid mobile content, such as ring tones and games.
  • The money transfer segment provides global money transfer and bill payment services primarily in North America, the Caribbean, Europe, and Asia-Pacific.

See also

References

  1. ↑ Euronet Worldwide Reports Fourth Quarter and Full Year 2016 Financial Results, Retrieved on February 26, 2017
  2. 1 2 EEFT - Profile, Yahoo! Finance, Retrieved on May 14, 2008
  3. ↑ Euronet to Expand Business and Product Line by Acquiring ARKSYS, Euronet - Press Release, Retrieved on May 14, 2008
  4. ↑ "Euronet Forms Asian Joint Venture with First Mobile Group".
  5. ↑ Ashley Armstrong (March 11, 2014). "Money transfer company HiFX sold for £145m". The Telegraph.
  6. ↑ "OzForex undeterred after missing out on xe.com buy". Sydney Morning Herald. November 10, 2015.
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